Take the pledge to vote

Thank you for taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618

Representative image.

Loading...

Mumbai: Benchmark indices started on a positive note on Thursday tracking gains on banking counters, after the government announced infusion Rs 48,239 crore in 12 public sector banks, buying by foreign and domestic institutional investors, and positive global cues.

The 30-share index was trading 8.47 points, or 0.02 per cent, at 35,764.73. Similarly, the 50-share NSE Nifty was trading 6.05 points, or 0.06 per cent, higher at 10,741.50.

The Sensex had settled at 35,756.26, up 403.65 points, or 1.14 per cent in the previous session, while the broader NSE Nifty soared 131.10 points, or 1.24 per cent, to 10,735.45.

On the other hand, Infosys, Yes Bank, Bharti Airtel, M&M, Coal India and HDFC Bank fell up to 1.28 per cent.

According to traders, public sector bank stocks rose after the finance ministry on Wednesday announced infusion of Rs 48,239 crore in 12 public sector banks (PSBs) in this fiscal to help them maintain regulatory capital requirements and finance growth plans.

On a net basis, DIIs were net buyers to the tune of Rs 113.27 crore, and FIIs also bought shares worth a net of Rs 713.47 crore on Wednesday, provisional data available with BSE showed.

Investors also took cues from other Asian equities that were trading positive after the US Federal Reserve minutes affirmed that the central bank would be patient on interest rate hikes, amid anticipation of a resolution to US-China trade tiff.

Hong Kong's Hang Seng was up 0.54 per cent, Kospi rose 0.05 per cent, and Japan's Nikkei gained 0.35 per cent; while Shanghai Composite Index was trading 0.36 per cent in early trade.